Offering complete coverage for you and your family!
A permanent policy, sometimes called cash-value or whole-life insurance, generally remains in force for the life of the insured as long as the premiums are paid. Once the policy is in force, the premiums typically remain level. This can help ensure continued protection as you age, even if your health should take a turn for the worse.
The best part about life insurance is that in most cases (almost always) the money your family receives is income TAX FREE. The death benefit can be used to help pay estate taxes, final expenses, medical bills, pay off the mortgage and other debts without the need for your family to sell off the home, jewelry, vehicles etc… to pay the bills.
In the first few years of your policy, the premiums are higher than the actual cost of insurance. This insurance is for the long term not just a short term fix.
How Does It Work And The Tremendous Upside!
When the insurer receives your payments, they take out the cost of insurance and then they invest the excess premiums, and the policy can accrue cash value.
As owners of a policy you can borrow against the cash value for any number of uses, such as retirement income, sending little Jimmy to college or paying off a mortgage. This money, when borrowed from your policy, will not count against your income when trying to qualify for financial aid.
Access to cash value is through withdrawals or loans. Policy loans will reduce the cash value by the amount of any outstanding loan balance, plus interest.
The actual cost of life insurance depends on a lot of variables: whether you smoke or not, age, general health, life risks (traveling, skydiving), etc…
Two Final Questions…
1. Over the next 10, 20 or 30 years, will you need life insurance to protect your family?
2. Do you want tax free income when you retire?
If your answer is yes, then you may want to consider the lifelong protection of permanent life insurance. Contact our office for more details.
-Laughter is a proven way to lose weight
-A single horse has a peak power output of 14.9 horsepower
-In Finland, there is an annual wife-carrying championship called Eukonkanto, and the winner receives his wife’s weight in beer.
-New York’s area code is 212 because it was the fastest number to dial on a rotary phone
-In Stockholm, there is a speed camera lottery where good drivers can win money from the fines of speeding drivers
Warning: Read This Before You Call
Your Credit Card Company!
Recently, it has come to my attention that some very sneaky things are going on inside the credit card industry. If you are not very careful these items might affect your credit and the amount of interest you pay on your cards. So please read this article and protect yourself.
For starters have you ever heard the old advice to call up all of your credit cards and ask for a lower rate? I used to dole out this advice myself at many of my workshops. The reason I did, was it worked! About 75% of the time just asking for a lower rate could knock 3% or 4 % off of your bill. Isn’t that worth a phone call? Well now I am about to recant that advice. DO NOT CALL YOUR CREDIT CARD COMPANIES AND ASK FOR A LOWER RATE,
at least not for a while. Why? Several of my clients have tried that strategy and the sneaky credit card companies are using that opportunity as an invitation to review your account and in many cases lower your available balance or even CLOSE YOUR ACCOUNT. Can they really do that? Not only can they, but I have seen it done on more than one occasion, to more than one of my clients and in some cases to people with otherwise stellar credit. Closing your account or lowering your credit limit will have a negative impact on your credit score so don’t let this happen to you. But how can you avoid it?
The truth is you may not be able to avoid it if they happen to do a random review or even a selective review of their card holders but you can certainly avoid “opening the can of worms” so to speak. For right now, my advice would be to lay low and hope they don’t start picking on you. The bottom line is credit card companies are getting hit hard with the current recession. (Yeah, I know they say it’s over but let’s be real) Unemployment is at an all time high and banks, in general, are finding out they have been lending too much money to too many people who will not be able to pay it all back. Not to mention the new law started in December 2009, that better regulates credit cards and puts additional pressure on banks. They are not able to play some of the games they used to play to make money off of us and they know that this is coming so they are trying to take their profits now while they can still get them. Don’t get me wrong, I certainly don’t feel sorry for the banks but that is what is going on and you should know about it, so you don’t get caught in the middle.
What can you do about all of this? Stop relying on credit cards period. If you don’t have a plan to get out of debt, call my office today. So we can help you formulate one for free. This is not the time to negotiate with your credit card company. Lay low don’t draw any unnecessary attention to your account and stop adding to your debt. If you need help getting a handle on your credit cards give me a call and set up a time to come in and talk about it. I promise I won’t make you feel bad about your debt (sometimes bad things happen to good people) and there is never any fee or obligation.
DO YOU KNOW?
Car insurance Rates and discounts vary from company to company and from state to state, which can be frustrating when you’re looking for the best coverage at the best price. But it definitely pays to compare, and these days you can get multiple quotes fairly easily and quickly online (some insurers even offer substantial discounts for buying policies online.)
Make sure you understand the coverage being offered so that you don’t end up paying for something you don’t need, or worse, missing coverage that you should have or must have under your state’s minimum requirements.
Some insurers offer discounts for all new cars, and most insurers offer discounts if your car has extra safety features, such as factory-installed motorized seat belts, air bags, head restraints, or anti-lock brakes (ABS). Discounts are also available for anti-theft features, such as car tracking systems, fuel or ignition cutoff switches, car alarms, and immobilizers.
Also ask your agent about association discounts they can save you an additional 10% on your premiums